Forsta AP Fonden Cuts Stake in Molina Healthcare, Inc. (NYSE:MOH)

Forsta AP Fonden lowered its holdings in shares of Molina Healthcare, Inc. (NYSE:MOH) by 38.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,400 shares of the company’s stock after selling 8,900 shares during the quarter. Forsta AP Fonden’s holdings in Molina Healthcare were worth $4,281,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Jupiter Asset Management Ltd. grew its position in shares of Molina Healthcare by 434.6% during the second quarter. Jupiter Asset Management Ltd. now owns 185,606 shares of the company’s stock worth $55,181,000 after purchasing an additional 150,890 shares in the last quarter. Qsemble Capital Management LP purchased a new stake in shares of Molina Healthcare during the second quarter worth about $316,000. AGF Management Ltd. grew its position in shares of Molina Healthcare by 10.4% during the second quarter. AGF Management Ltd. now owns 7,235 shares of the company’s stock worth $2,151,000 after purchasing an additional 680 shares in the last quarter. Daiwa Securities Group Inc. grew its position in shares of Molina Healthcare by 5.0% during the second quarter. Daiwa Securities Group Inc. now owns 16,989 shares of the company’s stock worth $5,051,000 after purchasing an additional 804 shares in the last quarter. Finally, Andra AP fonden grew its position in shares of Molina Healthcare by 15.9% during the second quarter. Andra AP fonden now owns 72,900 shares of the company’s stock worth $21,673,000 after purchasing an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Molina Healthcare Price Performance

Shares of Molina Healthcare stock opened at $358.20 on Friday. The stock has a market cap of $20.99 billion, a price-to-earnings ratio of 19.44, a price-to-earnings-growth ratio of 1.20 and a beta of 0.57. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.57 and a current ratio of 1.57. The stock has a 50 day moving average price of $329.20 and a 200-day moving average price of $344.83. Molina Healthcare, Inc. has a one year low of $282.96 and a one year high of $423.92.

Molina Healthcare (NYSE:MOH) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $5.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.73 by $0.13. Molina Healthcare had a return on equity of 28.09% and a net margin of 2.84%. The company had revenue of $9.88 billion during the quarter, compared to analysts’ expectations of $9.75 billion. During the same quarter in the previous year, the business earned $5.65 EPS. Molina Healthcare’s revenue was up 18.7% compared to the same quarter last year. Equities analysts expect that Molina Healthcare, Inc. will post 23.5 EPS for the current year.

Analysts Set New Price Targets

MOH has been the subject of several research analyst reports. Jefferies Financial Group cut their target price on Molina Healthcare from $354.00 to $297.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. Cantor Fitzgerald reissued an “overweight” rating and set a $406.00 price target on shares of Molina Healthcare in a research note on Tuesday, September 10th. Baird R W raised Molina Healthcare to a “strong-buy” rating in a research note on Thursday, May 30th. Stephens reissued an “equal weight” rating and set a $320.00 price target on shares of Molina Healthcare in a research note on Thursday, July 25th. Finally, Truist Financial dropped their price target on Molina Healthcare from $440.00 to $400.00 and set a “buy” rating for the company in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $378.00.

Insider Activity at Molina Healthcare

In related news, Director Steven J. Orlando sold 1,000 shares of the business’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $339.21, for a total transaction of $339,210.00. Following the completion of the transaction, the director now owns 18,025 shares in the company, valued at approximately $6,114,260.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Molina Healthcare news, CAO Maurice Hebert sold 393 shares of Molina Healthcare stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $346.52, for a total transaction of $136,182.36. Following the completion of the sale, the chief accounting officer now directly owns 9,473 shares of the company’s stock, valued at approximately $3,282,583.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven J. Orlando sold 1,000 shares of Molina Healthcare stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $339.21, for a total value of $339,210.00. Following the sale, the director now directly owns 18,025 shares of the company’s stock, valued at $6,114,260.25. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Molina Healthcare Profile

Molina Healthcare, Inc provides managed healthcare services to low-income families and individuals under the Medicaid and Medicare programs and through the state insurance marketplaces. It operates in four segments: Medicaid, Medicare, Marketplace, and Other. The company served in across 19 states. The company was founded in 1980 and is headquartered in Long Beach, California.